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The Solana price has slumped 7% in the last 24 hours to trade at $167.13 as of 3:30 a.m. EST on a 21% surge in trading volumes to $7.21 billion.
This drop in the SOL price comes as interest in Solana ETFs grows, with nine applications waiting for approval from the US SEC.
At the same time, companies like Jito Labs, VanEck, Bitwise, and others are asking the SEC to allow liquid staking for these ETFs.
Solana Drops To $166, Can The Bulls Regain Bullish Momentum?
Despite the drop, the SOL price chart suggests this could just be a short-term dip before a bigger move up.
Looking at the daily chart, Solana recently broke out of a bearish channel that had been pushing prices down since late 2024. After that, it formed a rounded bottom, a bullish pattern that shows accumulation. In July, SOL broke above a key resistance area near $170 and moved sharply higher, hitting above $200.
Now, the price is pulling back and retesting the old resistance around $170. This could act as support. If it holds, Solana could bounce and continue rising. The next big target is between $260 and $280. This is where a lot of buy orders (liquidity) might be waiting, which might push the price higher.
SOLUSDT Analysis Source: Tradingview
Solana’s Long-Term Outlook Remains Strong
On the downside, support is found around $155–$160. If that breaks, the next strong support is near $120, where buyers stepped in before.
The RSI (Relative Strength Index) is at 44.56. This means Solana isn’t oversold yet but has room to fall more before bouncing. That said, the longer-term structure remains bullish unless SOL breaks down below the parabolic curve and the $140 zone.
A daily close above the $180–$185 level would confirm renewed buying strength and set the stage for a move toward the $260 resistance zone. Failure to hold the neckline support, however, may delay the uptrend.
While Solana is currently under short-term pressure, the broader price structure favors continuation to the upside, especially if it manages to reclaim $180. If support around $170 holds, SOL could soon aim for the higher zones.
Snorter Token Presale Heads For $3M – Next Crypto To Explode?
As Solana gears up for another bullish rally from the current price, investors are increasingly adding money to a new project called Snorter Token (SNORT).
This new Solana project has raised over $2.6 million in its presale. With a fun anteater mascot, SNORT wants to help regular traders win in the meme coin market. It powers the Snorter bot, a lightning-quick trading tool on Telegram.
The bot lets users buy tokens the moment they launch, no need for slow wallets or missing out on big trades. In meme coin trading, speed matters, and Snorter gives users that edge.
🚨 Snorter Bot is now live in Best Wallet! 🚨@SnorterToken is building a powerful multi-chain Telegram trading bot designed for speed, transparency, and automation.
Snorter Bot will give users the ability to access lightning-fast trades and real-time execution directly from… pic.twitter.com/EqkWxGMcQy
— Best Wallet (@BestWalletHQ) May 28, 2025
The Snorter bot is cheap to use. If you hold SNORT tokens, your trading fees drop from 1.5% to just 0.85%, which is lower than what Banana Gun and Unibot charge. It also helps keep you safe with its rug pull and honeypot scam detection that has shown an 85% success rate in protecting users from these scams.
Snorter also comes with handy features like copy-trading, so you can follow the moves of top wallets, and MEV protection to guard you from bot attacks. It’s made for everyday traders, not just tech experts.
Popular crypto YouTuber Jacob Bury, who has over 56.8K followers, says SNORT could surge 100x after launch.
SNORT is now selling at $0.0999, and you can buy it using SOL, ETH, USDT, or a bank card. Early stakers can earn up to 161% APY, although this reward rate will drop as more users get involved.
With the next price jump less than 24 hours away, this could be your last chance to get in at the current discounted rate.
Check out the Snorter Token website.
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